Take Advantage of Record Low Mortgage Rates
May 20th, 2020
May 20th, 2020
Shopping for a home in Indianapolis, or not satisfied with your current mortgage? Whether you want to buy a home or refinance, you could not pick a better time to think about doing either. Mortgage rates have just reached a record low.
According to CNBC on May 15th, “The average rate on the popular 30-year fixed mortgage just fell to 3.09%, a record low, according to Mortgage News Daily.”
The thing to know about mortgage rates is that when you see a figure like 3.09%, you are looking at an average, not a single rate which applies to all types of loans from all lenders.
CNBC explains, “Mortgage rates are not an exact science, so there are some lenders now even lower, offering 3% and even 2.75%-2.875% for perfect scenarios. There are also lenders remaining at higher rates. “
That is why when you are looking for a home loan to purchase or refinance in Indianapolis or elsewhere in the state of Indiana, you need to shop for the most affordable rate, even now.
As a local family-owned mortgage broker, that is exactly what we do for all our customers. We do the hard work of shopping for great deals, so you don’t have to.
We are networked with fair and competitive lenders throughout the state and can connect you with numerous different types of mortgage products, including conventional loans, jumbo loans, USDA rural housing loans, VA mortgages, FHA mortgages, and more. We will check around for you to find which lenders are offering the most affordable rates based on your qualifications.
If you will only be in your Indiana home for a few years, we recommend that you consider an adjustable rate mortgage with a low introductory rate. If, however, you plan to stay in your home over the decades ahead, a fixed rate mortgage will guarantee that you can keep paying the same low rate until your mortgage is paid off. That will remain true even if mortgages rates climb in the years to come.
Should you need help figuring out what types of mortgages you qualify for and what type of mortgage rate will be most suited to your needs and goals, that is something we can work with you to figure out during your consultation.
We recommend that you do not wait long to purchase or refinance. We do not know how long mortgage rates will remain as though as they are today.
Ready to get started? To schedule your consultation, please call us today at (317) 255-0062. We look forward to helping you buy a home or refinance in Indianapolis or elsewhere in Indiana with a competitive mortgage which is right for you.
We provide our clients with exceptional service and integrity which has become our hallmark.